• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.203-212
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• 2023

This research work aims to investigate the role of FDI in Economic Development by assessing its relationship with GDP per capita in Vietnam +5 from 1986-2020. Through descriptive statistical, correlation matrix analysis, and econometric models, including Vector Error Correction Model (VECM) and Feasible Generalized Least Squares (FGLS) estimation methods using Stata 15.1. The VECM estimation method results show that FDI positively impacts Economic Development in the short run while not finding a long-run relationship. In addition, it is found that a clear relationship between Exports and Economic Development in both the short run and the long run. Meanwhile, CO2 emissions and Employment Opportunities have no clear relationship with Economic Development in the short run. However, the relationship is reversed in the long run, as the empirical study in Vietnam. The results of the FGLS estimation method show that FDI, CO2 emissions, and Exports have a significant and positive impact on Economic Development in five selected Southeast Asian countries without Employment Opportunities in the long run. From these findings, the author proposes some policy implications of attaching FDI to sustainable Economic Development in Vietnam next time.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.231-237
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• 2022

Intellectual Capital, a valuable intangible organizational asset, is primarily linked to a company's financial performance and is divided into three categories: human, structural, and relational capital. This paper investigates the impact of intellectual capital on the financial performance of selected Pakistani companies in the Information and Communication sector, as this sector is heavily reliant on intellectual capital. The data for 11 firms was gathered from the State Bank's Financial Statements Analysis of Companies Listed on the Pakistan Stock Exchange from 2015 to 2020. Pulić's (2004) Value Added Intellectual Coefficient (VAICTM) has been used to assess a company's IC efficiency. VAIC^TM and its components, the efficiency of intellectual capital, and the efficiency of capital employed are calculated. Financial performance is measured through return on assets, return on capital employed, and asset turnover ratio. Multiple regression, fixed-effect, and random-effect Panel Data estimation are used in the empirical study. The findings suggest that intellectual capital efficiency has a large impact on major profitability metrics, but little effect on company productivity. It can be inferred from the results that the companies must invest in advanced technology, the latest machinery, and well-equipped offices to improve financial performance and productivity and gain a competitive advantage.

• Asian Journal of Innovation and Policy
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• v.12 no.1
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• pp.75-100
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• 2023

Over the past few decades, globalization has been shifting economic power upward to transnational actors on the one hand, and downward to subnational or regional spaces on the other. This phenomenon has resulted in the centrality of territorially delimited subnational regions acting as critical loci of economic governance within a complex and globally distributed value chain of trade and service flows. Within this broader context of industrial restructuring are economic regions that span national borders in their collective assets. The paper focuses on investigating the economic competitiveness and productivity of cross-border (or binational) economic regions. Using the conceptual framework of economic clusters, an econometric model that measures proxies of geographic proximity of firms in the life sciences cluster, and a new binational economic model, the paper examines the key characteristics, potentials and constraints of economic competitiveness and productivity in a cross-border region comprising counties in Western New York and regional municipalities in Southern Ontario. The findings demonstrate the direct and indirect benefits of closer cross-border economic cooperation. The paper then concludes with some policy observations about leveraging cross-border economic clusters for strategic industrial cooperation.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.203-211
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• 2022

Foreign direct investment (FDI) has increased at an exponential rate during the last two decades. It is now a feature of emerging market economies as well. Foreign direct investment and financial development are important factors in an economy's growth. Various studies have examined the impact of foreign direct investment and financial development on economic growth in different countries and areas. However, the findings are currently inconclusive. Using updated data from 1970 to 2020, this study will examine the relationships between FDI, financial development, and economic growth in 30 rising economies.GDP is the dependent variable, while FDI, financial development, trade openness, infrastructure, exchange rate, and GDP growth are the independent factors. To estimate the panel data, we used the most recent econometric models. The study's major findings suggest that FDI and financial development are critical determinants in emerging economies' economic progress. Furthermore, multiple robustness checks supported the study's empirical findings. The results of this study include various practical recommendations for investors, governments, and policymakers, given the increased interest in global economic integration and member states' reliance on FDI as a critical aspect of sustaining prosperity.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.3
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• pp.217-227
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• 2022

Predicting return and volatility in the global Capital Market during a pandemic is challenging, and it is more difficult for a specific sector, particularly if that sector has a positive outlook. The goal of this research is to look at the impact of COVID-19 on the mean and volatility of the Information Technology Indexes of the best nine technology-driven countries based on return performance using an econometric GARCH model that is widely used. The daily returns of information technology indexes are evaluated for the same from November 2018 to February 2021. Data is taken from Yahoo Finance for CAC Tech (France), DAX Tech (Germany), FTSE All Tech (UK), KOPSI 200 IT (Korea), NIFTY IT (India), S&P 500 IT (US), S&P TSX (Canada), SSE_IT (China) and TOPIX17 (Japan). The results show daily positive mean returns for 8 countries' IT Indices and further, an uptrend in mean daily returns is observed in the crisis period for 6 countries' IT Indices. The exogenous variable COVID-19 which was taken as a regressor for the GARCH model was found to be positively significant for IT indices of all the countries. The overall results confirm the presence of the mean-reverting phenomenon for IT indices of all the countries.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.11-18
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• 2022

Current research intended to measure the spillovers of education and on-the-job training to enhance sustainable economic development. Consideration of research and development expenditures for on-the-job training expands the impact of education and, thus, may provide spillovers for Pakistan's economic growth. The primary focus of this research is to look at the combined impact of education and research and development spending as value-added variables for sustainable growth. The econometric study uses data from a variety of sources, including the Pakistan Bureau of Statistics, the Pakistan Economic Survey, and world development indices. The secondary annual time series data from 1976 to 2019 are analyzed. To adequately estimate the empirical model, ARDL has been used while the presence of the unit root has been tested using the ADF test. The findings show that education, research, and development all contribute to all-inclusive, sustainable economic growth. Labor and capital, among other traditional components, continue to be the backbone of the development process. Still, the spillover effect is much enhanced with the expansion in education and the on-job training in the form of research and development expenditures. Consequently, the introduction of research and development in education will lead to a sustainable and inclusive economy.

• Asian Journal of Business Environment
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• v.12 no.1
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• pp.25-33
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• 2022

Purpose: The purpose of this paper is to determine the effects of the Real Estate Transactions Tax (RETT) on the economic cycles of Saudi Arabia. A secondary purpose is to determine the effects of RETT on the construction and real estate sectors of Saudi Arabia. Research design, data and methodology: The data used is retrieved from the General Authority of Statistics, Saudi Central Bank and the World Bank Open Data. Econometric models of multiple linear regression with dummy variables have been conducted to achieve the objectives and to quantitatively verify the hypotheses. Results: With the VAT exemption in real estate transactions and its substitution with RETT, a positive effect on the economy and the real estate sector has been observed. However, this tax reform has not produced any significant effects in the construction sector. Conclusions: The main conclusion of the present research is that the real estate market has a major influence on economic cycles. After the tax reform, a reduction in the contribution of taxes on real estate transactions to GDP was detected. For the construction sector, after the tax reform, it is estimated that there will be an insignificant reduction in the contribution of the real estate price index, and of the taxes on real estate transactions, to GDP.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.1
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• pp.13-24
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• 2022

The main goal of this study is to look at how South Korea can catch up to the rest of the world through policy-driven structural change and manufacturing revolutions. To achieve the objective, this study used annual data on real exports and real GDP from the World Development Indicator WDI of South Korea for the period 1960 to 2019. The study's goal is to use econometrics to detect this policy-driven structural change trend. Multiple nonlinear Granger causality test was used to accomplish this. The findings revealed structural breaks and nonlinearities in the dynamic link between South Korea's real GDP and real exports. Furthermore, results also show evidence of multiple structural breaks in South Korean data. South Korea's economic catch-up was the result of a constant reevaluation of industrial policies, readjustment, and structural change to constantly explore and utilize comparative advantage, realizing economies of scale at the global level, and reallocating and redistribution of resources towards productive sectors with high value-added output, according to econometric analysis. If South Korea would have not done this structural change this miracle to escape the middle-income trap would not have been possible. These findings support the descriptive evidence of structural change in favor of manufacturing revolutions and value addition industry development in South Korea.

• Journal of Distribution Science
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• v.21 no.7
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• pp.41-50
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• 2023

Purpose: The purpose of the research is identified factors influencing the competitiveness of the copper industry in Kazakhstan. Research design, data and methodology: A few studies are dedicated to the analysis in developing countries, particularly Kazakhstan. The algorithm was chosen for research provision: statistical and comparative analysis, correlation, and regression analysis. The data of 1999-2021 obtained from the World Bank, Bureau of National Statistics, National Bank of Kazakhstan. Results: The obtained results demonstrate the trends in the development of the industry since 2000. The development of the copper industry is strongly influenced by the distribution and state of the business environment, economic situation, and trends in the global commodity markets. Conclusions: According to econometric modeling, there is a correlation between the profitability of the copper industry, GDP, copper prices, liquidity, and energy resource prices. Trends in global commodity and energy markets have a significant impact on the state of the industry. Further research should be conducted to include an analysis and forecast of internal factors that may affect the development of the industry, such as copper reserves, condition of fixed assets, government programs, etc. It is also important to examine the correlation with the trends in the development of the global green economy and the revival of the Chinese market.

• Korea Trade Review
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• v.47 no.4
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• pp.53-68
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• 2022

It has great significance to estimate CIF-FOB margins of international trade. It certainly helps develop statistics on transport costs of international trade and provides basic data for econometric analysis of transport costs. It also contributes much to our standing the correlation between the margins and trade partners' geographical distance as well as one between the margins and trading products. However, the quality issue of international trade statistics renders it very difficult to derive trustworthy CIF-FOB margin estimates. Utilizing various analytical approaches, this study intended to acquire credible estimates of CIF-FOB margins for Korea's total imports and for country/product specific imports data. Major findings are as follows. First, the average of CIF-FOB margins of Korea's total imports is 7.3% and is generally declining. Second, country level analysis provides credible estimates for CIF-FOB margins of Korea's imports from four partners (Japan, the US, Australia, and Brazil). The differences in margins among these four countries are caused by geographical distance and characteristics of traded products. Third, product level analysis reveals that the margins of gold and passenger vehicles are fairly low while those of primary products tend to be high.